In this time of greater securities litigation risk, clients need innovative solutions and trusted counsel. A securities claim can seriously impact any organization, from an international corporation to an emerging company, as well as officers and directors.
Roshka DeWulf & Patten is a leading Arizona securities and regulatory defense firm providing our clients with experienced representation in all aspects of securities litigation. We have defended securities class actions, derivative lawsuits and complex lawsuits filed in the U. S. District Court and the Arizona Superior Court alleging violation of federal and Arizona securities laws. Our firm represents a broad range of clients in actions involving alleged violations of the securities laws and other securities-related theories of liability.
We regularly defend broker-dealers, registered representatives and investment advisers named as respondents in FINRA securities industry and AAA arbitrations, and participate in mediations in an effort to reach creative resolutions of securities cases on terms favorable to our clients.
Our firm defends both law firms and accounting firms facing a variety of allegations asserting violations of the federal and state securities laws and related causes of action.
Roshka DeWulf & Patten uses a combination of technology, trained discovery lawyers and paralegals, and established business processes to review and produce electronic and hard copy documents, often in a fraction of the time and at lower cost than traditional review methods. We make every effort to keep discovery costs down for our clients and minimize the impact of the discovery process on clients' operations. Our cases range in document size from several thousand pages to one matter that involved a discovery data base of 16 million pages.
Roshka DeWulf & Patten has handled litigation related to such issues as:
- Securities fraud in the form of material misrepresentations and alleged failures to disclose material information
- Sale of unregistered securities
- Suitability of stock and bond recommendations
- Suitability of recommendations involving private placements
- Supervisory deficiencies
- Unauthorized transactions
- Churning
- Accounting cases involving revenue recognition, irregularities and restated financial statements
- Private placements and other exempt transactions and securities
- Breaches of fiduciary duties by investment advisers
- Unsuitable portfolio allocations
- Variable annuity suitability and exchanges
- Mutual fund suitability and exchanges
- Forgery
- Misappropriation of client assets
NOTABLE MATTERS:
- Defense of former officers of a failed mortgage banker in a $900 million class action where the alleged violations included federal and state securities fraud and breach of fiduciary duty.
- Defense of a mortgage banker and its principal against alleged violations of the registration and anti-fraud provisions of the Arizona securities laws filed by an investor in several of its originated real estate loans.
- Defense of a securities fraud class action and a derivative lawsuit that named Chief Financial Officer of public auto-parts company.
- Obtained a multimillion dollar securities fraud jury verdict involving the purchase of LLC interests holding real estate in Arizona and New Mexico.
- Defense of a nationwide insurer in a class action.
- Defense of a hedge fund and its principal in a AAA arbitration against charges filed by a disgruntled investor who alleged our clients violated federal and state securities laws, breached fiduciary duties owed to the investor.
- Defense of a registered representative in a FINRA arbitration brought in Seattle where the investor alleged misrepresentations, breach of fiduciary duty, unsuitable recommendations, churning and unauthorized transactions.
- Achieved a significant jury verdict on behalf of an investor against an accountant and his firm for professional malpractice.
- Defense of a registered investment adviser in an action brought in Superior Court alleging misrepresentations, breach of fiduciary duty, negligence and the failure to disclose a compensation agreement with promoters of a $10.2 million pool of funds transferred to a prime bank scheme based in London.
- Defense of a broker-dealer and a registered representative in a FINRA arbitration filed in Los Angeles alleging fraud, negligence, unsuitable recommendations, supervisory deficiencies and breach of fiduciary duty in connection with the purchase of real estate private placements.
- Defense of a broker-dealer and a registered representative in a claim brought by a customer alleging the failure to follow his instructions and properly execute his order.
- Defense of one of Arizona's largest utilities in a class action lawsuit filed in the United States District Court in New Mexico, achieving a complete dismissal of all claims.
- Defense of a broker-dealer in a FINRA arbitration brought by another broker-dealer involving allegations of raiding.
- Defense of a registered representative in a matter that began with the successful motion to stay a FINRA arbitration alleging misrepresentations in connection with the purchase of real estate through the representative who also held a real estate license, and ended with a favorable ruling by the Arizona Court of Appeals.
- Defense of a FINRA arbitration filed in Salt Lake City alleging misrepresentations and unsuitable recommendations in connection with the purchase of variable annuities and selection of sub-accounts.
- Obtained an efficient and favorable settlement on behalf of a large group of doctor investors in a significant commercial building transaction, after performing an exhaustive factual investigation and explaining the group's legal claims through a detailed demand letter.
- Defense of a New Jersey based broker-dealer in a FINRA arbitration and subsequent mediation in Florida against allegations of unsuitable recommendations, misrepresentations and negligence arising out of a registered representative's promise to monitor the positions in the customer's IRA.
- Defense of broker-dealer and its registered representative in a FINRA arbitration alleging misrepresentations, unauthorized transactions and churning.
- Defense of a national law firm on allegations of securities fraud in connection with $35 million in taxable revenue bonds issued to finance a multi-purpose events center.
